Flextronics International Ltd. (FLEX) Price Target Increased to $23.00 by Analysts at Argus

Flextronics International Ltd. (NASDAQ:FLEX) had its target price boosted by Argus from $20.00 to $23.00 in a research note issued to investors on Wednesday morning. Argus currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the company. UBS AG upped their price objective on Flextronics International from $18.00 to $19.75 and gave the stock a buy rating in a report on Friday, October 27th. Citigroup Inc. boosted their target price on Flextronics International from $18.00 to $20.00 and gave the company a buy rating in a research note on Friday, October 27th. Stifel Nicolaus boosted their target price on Flextronics International from $19.00 to $20.00 and gave the company a buy rating in a research note on Friday, October 27th. Royal Bank Of Canada reissued a buy rating and issued a $19.00 target price on shares of Flextronics International in a research note on Friday, October 13th. Finally, Zacks Investment Research raised Flextronics International from a sell rating to a hold rating in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $19.53.

Flextronics International (NASDAQ:FLEX) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Flextronics International had a return on equity of 22.71% and a net margin of 2.25%. The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year.

ILLEGAL ACTIVITY NOTICE: This article was first published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.com-unik.info/2017/11/02/flextronics-international-ltd-flex-price-target-increased-to-23-00-by-analysts-at-argus.html.

Flextronics International declared that its Board of Directors has initiated a stock repurchase program on Friday, August 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 65% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

In other news, Director Lay Koon Tan sold 2,728 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $15.93, for a total value of $43,457.04. Following the completion of the transaction, the director now owns 114,394 shares of the company’s stock, valued at approximately $1,822,296.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of FLEX. South Street Advisors LLC purchased a new stake in shares of Flextronics International in the 2nd quarter worth approximately $3,277,000. Korea Investment CORP grew its stake in shares of Flextronics International by 145.7% in the 3rd quarter. Korea Investment CORP now owns 257,300 shares of the technology company’s stock worth $4,263,000 after buying an additional 152,600 shares during the last quarter. State Street Corp grew its stake in shares of Flextronics International by 2.1% in the 1st quarter. State Street Corp now owns 7,007,365 shares of the technology company’s stock worth $117,728,000 after buying an additional 144,347 shares during the last quarter. FMR LLC grew its stake in shares of Flextronics International by 7.8% in the 1st quarter. FMR LLC now owns 1,796,240 shares of the technology company’s stock worth $30,177,000 after buying an additional 129,993 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in shares of Flextronics International by 2.8% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 4,575,365 shares of the technology company’s stock worth $74,624,000 after buying an additional 126,700 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

About Flextronics International

Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).

Analyst Recommendations for Flextronics International (NASDAQ:FLEX)

What are top analysts saying about Flextronics International Ltd.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Flextronics International Ltd. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit